4th Risk Summit (2013)
17 Jun 2013
13:00 -22:00
18 Jun 2013
08:30 -18:30
Times are shown in local times.
Open to: Specialists and business managers, including threat specialists, academics, policy-makers, practitioners and advisors
Cambridge Judge Business School
Trumpington St
Cambridge
CB2 1AG
United Kingdom
Risk & Strategy: Returns versus Resilience
In June 2013 the Cambridge Centre for Risk Studies brought together leaders and decision makers from business, government, intergovernmental organisations, academia and NGOs to explore the inter-linkages between risk and strategy.
Risk is usually perceived as the threat of loss, with predominantly negative connotations.
This meeting challenged these perceptions and promote debate about opportunities inherent in a risky environment.
Keynote speakers
Risk Summit
- Woody Powell, Professor of Sociology, Organizational Behavior, Management Science & Engineering, and Communication (by courtesy), Stanford University
- Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times
Risk Summit Dinner
- David Spiegelhalter, Winton Professor of the Public Understanding of Risk, University of Cambridge
Registration closed
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Programme
Day 1
Monday 17 June 2013
16:30 – 17:00
Risk Summit Registration
17:00 – 18:30
Risk Summit Welcome
Michelle Tuveson, Executive Director, Cambridge Centre for Risk Studies
Session and Keynote Speaker Introduction
William Janeway, Senior Advisor, Warburg Pincus
Risk Summit Keynote: Risk and Resilience through a Network Lens
Speaker: Woody Powell, Professor of Sociology, Organizational Behavior, Management Science & Engineering, and Communication (by courtesy), Stanford University
Risk Summit Day 1 Panel: Seeking Value Creation in Risk: Innovation, Creativity, and Making the Right Bets
Moderated by: Chair: David Champion, Senior Editor, Harvard Business Review
- Mark Davies, Head of Group Risk, Rio Tinto
- Christoph Loch, Director, University of Cambridge Judge Business School & Professor of Management Studies
- Woody Powell, Professor of Sociology, Organizational Behavior, Management Science and Engineering, and Communication (by courtesy), Stanford University
- Alan Smith, Global Head of Risk Strategy and Chief of Staff, Global Risk, HSBC
18:30 – 19:30
Drinks Reception at Cambridge Judge Business School
19:30 – 22:00
Risk Summit Dinner at Christ’s College
Dinner Speaker: David Spiegelhalter, Winton Professor of the Public Understanding of Risk, University of Cambridge
Day 2
Tuesday 18 June 2013
08:30 – 09:00
Risk Summit Registration & Coffee
09:00 – 09:15
Risk Summit Welcome and Introductions
Andrew Coburn, Director of the External Advisory Board, Cambridge Centre for Risk Studies and Senior Vice President, RMS
09:15 – 11:00
Plenary Session 1: Risk Strategy and Value Of Risk (VOR)
09:15-09:30 – Joining up the Dots; What Anthropologists Can Teach Risk Managers – Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times
09:30-10:00 – The challenge of simulating and understanding systemic risk in financial markets – Doyne Farmer, Professor of Mathematics and Co-Director of Complexity Economics, Institute for New Economic Thinking, Oxford Martin School, University of Oxford
10:00-10:30 – Value from risk through informed tradeoffs – Martin Pergler, Senior Risk Expert, McKinsey & Co
10:30-11:00 – Risk Summit Day 2 Panel: “Against the Gods” – Exploring the Strategy Side of Risk
Panel Moderator: Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times
- Doyne Farmer, Professor of Mathematics and Co-Director of Complexity Economics, Institute for New Economic Thinking, Oxford Martin School, University of Oxford
- Andrew Freeman, Risk Fellow, Cambridge Centre for Risk Studies & Managing Director, Cambridge Research Associates Ltd
- Ashley Hirst, Head of Science, Global Distribution and EMEA at AIG
- Martin Pergler, Senior Risk Expert, McKinsey & Co
11:00 – 11:30
Break
11:30 – 13:00
Plenary Session 2: The Upside of Risk
Chair: Sven Heiligtag, Principal, McKinsey & Company
Are Risk Analysts Too Reward-Averse? – Gordon Woo, Catastrophist, RMS
Risk Pricing Mechanisms: Reconciling Science, Risk, and Opportunities – Mike Maran, Chief Science Officer, Catlin Insurance
Phoenix from the Flames: Reinvigoration through Catastrophe – Charles Scawthorn, Principal, SPA Risk LLC and former Professor of Kyoto University
Influence of International Clusters to Global Economic Development – Haresh Shah, Chairman of ARC, Advisory Board, ICRM & Emeritus Professor, Stanford University
13:00 – 14:00
Lunch at University Arms Hotel
14:00 – 15:30
Plenary Session 3: Risk as an Evolutionary Force
Chair: Peter Ulrich, Senior Vice President, RMS
Survival of the Reckless: Risk, Structure, and the Law of Unanticipated Consequences – Michael Jacobides, Sir Donald Gordon Chair of Entrepreneurship and Innovation, Strategy & Entrepreneurship Department, London Business School
Biological Perspective of Resilience – Gerard Evan, Head of Department and Professor, Department of Biochemistry, University of Cambridge
Financial Innovations, Market Crises, and Institutional Changes: Causes or Consequences? – D’Maris Coffman, College Lecturer, Newnham College and Director, Centre for Financial History
15:30 – 16:00
Coffee break
16:00 – 17:00
Plenary Session 4: Crisis as Opportunity
Chair: Andrew Palmer, Finance Editor, The Economist
Why are Poor Countries Poor and Rich Countries Rich? – Tiago Cavalcanti, Senior Lecturer, University of Cambridge Department of Economics
Risk Summit Day 2 Panel: Emerging Opportunities in the Midst of Crises
Panel Moderator: Andrew Palmer, Finance Editor, The Economist
- William Dick, Consultant, World Bank and Consultant & UN World Food Programme
- Tso-Chien Pan, Professor and Executive Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
- Will Pearson, Director, Eurasia Group’s Global Energy and Natural Resources
- Geir Westgaard, Head of Political Risk and Head of Security Threat Assessment Centre, Statoil
17:00 – 17:15
Summit Closing Remarks
Daniel Ralph, Academic Director, Cambridge Centre for Risk Studies, University of Cambridge Judge Business School & Professor of Operations Research
17:30 – 18:30
Drinks Reception and Cambridge-McKinsey Risk Prize Award Announcement
Special topics seminar
13:00-14:00
From Risk Management to Resilience in Coping with Natural Catastrophes in Asia – the Vietnam Case
Roman Hohl, CEO Asia Risk Centre and Deputy Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
14:00-15:15
Risk Analytics Workshop with ProbabilityManagement.org
- Michael Salama, Vice President, Corporate Tax & Lead Tax Counsel, The Walt Disney Company.
- Sam Savage, Consulting Professor, Stanford University and Executive Director, ProbabilityManagement.org
15:15-16:30
Cambridge Risk Framework: Innovations in Risk Modelling
- Gary Bowman, Research Associate, Cambridge Centre for Risk Studies
- Andrew Coburn, Director of the External Advisory Board, Cambridge Centre for Risk Studies and Senior Vice President, RMS
- Simon Ruffle, Director of Technology Research, Cambridge Centre for Risk Studies
Speakers
- Gary Bowman, Research Associate, Cambridge Centre for Risk Studies
- Fabio Caccioli, Research Associate, Cambridge Centre for Risk Studies
- Tiago Cavalcanti, Senior Lecturer, University of Cambridge Department of Economics
- David Champion, Senior Editor, Harvard Business Review
- Dr Andrew Coburn, Director of the External Advisory Board, Cambridge Centre for Risk Studies and Senior Vice President, RMS
- D’Maris Coffman, College Lecturer, Newnham College and Director, Centre for Financial History
- Mark Davies, Head of Group Risk, Rio Tinto
- William Dick, Consultant, World Bank and Consultant & UN World Food Programme
- Gerard Evan, Head of Department and Professor, Department of Biochemistry, University of Cambridge
- J. Doyne Farmer, Professor of Mathematics and Co-Director of Complexity Economics, Institute for New Economic Thinking, Oxford Martin School, University of Oxford
- Andrew Freeman, Risk Fellow, Cambridge Centre for Risk Studies & Managing Director, Cambridge Research Associates Ltd
- Louise Gutteridge, Events and Operations Manager, Cambridge Centre for Risk Studies
- Sven Heiligtag, Principal, McKinsey & Company
- Ashley Hirst, Head of Science, Global Distribution and EMEA at AIG
- Roman Hohl, CEO Asia Risk Centre and Deputy Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
- Michael G Jacobides, Sir Donald Gordon Chair of Entrepreneurship and Innovation, Strategy & Entrepreneurship Department, London Business School
- William H Janeway, Senior Advisor, Warburg Pincus
- Christoph Loch, Director, University of Cambridge Judge Business School & Professor of Management Studies
- Michael Maran, Chief Science Officer, Catlin Group
- Andrew Palmer, Finance Editor, The Economist
- Tso-Chien Pan, Professor and Executive Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
- Will Pearson, Director, Eurasia Group’s Global Energy and Natural Resources
- Martin Pergler, Senior Expert, McKinsey & Co
- Walter W Powell, Professor of Education and Sociology, Organizational Behavior, Management Science and Engineering, and Communication, and Co-Director of the Center on Philanthropy and Civil Society
- Louise Pryor, Researcher, Cambridge Centre for Risk Studies
- Daniel Ralph, Academic Director, Cambridge Centre for Risk Studies, University of Cambridge Judge Business School & Professor of Operations Research
- Simon Ruffle, Director of Technology Research, Cambridge Centre for Risk Studies
- Michael H Salama, Vice President, Corporate Tax & Lead Tax Counsel, The Walt Disney Company
- Sam L Savage, Consulting Professor, Stanford University and Executive Director, ProbabilityManagement.org
- Charles Scawthorn, Principal, SPA Risk LLC and former Professor of Kyoto University
- Haresh Shah, Chairman of ARC, Advisory Board, ICRM & Emeritus Professor, Stanford University
- Alan Smith, Global Head of Risk Strategy and Chief of Staff, Global Risk, HSBC
- David Spiegelhalter, Winton Professor of the Public Understanding of Risk, University of Cambridge
- Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times
- Michelle Tuveson, Executive Director, Cambridge Centre for Risk Studies
- Peter Ulrich, Senior Vice President, RMS
- Geir Westgaard, Head of Political Risk and Head of Security Threat Assessment Centre, Statoil
- Gordon Woo, Catastrophist, RMS